Ruapehu Alpine Lifts applies for authorisation to acquire Turoa Ski Resorts
Published01 Aug 2000
Ruapehu Alpine Lifts applies for authorisation to acquire Turoa Ski Resorts
The Commerce Commission has received an application from Ruapehu Alpine Lifts Limited (RAL), which owns Whakapapa ski field, for authorisation to acquire all the assets of Turoa Ski Resort Limited (in receivership).
Whakapapa and Turoa are the only two major ski fields in the North Island.
Commission Chair John Belgrave said that an authorisation is, in effect, an exemption from the Commerce Act.
The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. In June last year the Commission declined to clear RAL to acquire Turoa because of dominance concerns.
RAL has now applied for an authorisation. The Commission can authorise an otherwise prohibited business acquisition if it is satisfied that public benefits from the acquisition outweigh its detriments to competition.
The Act gives the Commission 60 working days in which to make its decision. Working day 60 will be October 24.
In that time the Commission will investigate the application and publish a draft determination giving its preliminary view. Interested parties will then make submissions on the draft determination. The Commission may hold a conference at which interested parties would provide further information and the Commission would ask questions.
The Commission's final decision will draw together the information from the investigation, the submissions and the conference.
A timetable for the Commission's process will be published as soon as it is finalised.
An authorisation, if granted, protects a business acquisition from court action under the Act.
